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0 sats \ 4 replies \ @fwynn 8 Sep 2023 \ parent \ on: Fun Fact Friday - Best Fun Fact Gets 10,000 Sats meta
I don't know anything about steel tariffs, trying to make sense of this. A tariff is a tax on importing? and both workers and owners of steel processing places, places that buy steel and process it and sell it, they WANT TARIFFS???? Seriously this is the craziest thing I've heard in a long while, I'll give 2k sats to anyone who can explain it even a little!
Are they just patriotic and believe in supporting local mines?
Yep, they want tariffs. Say US steel producers (producers, not consumers) can sell steel to companies that make products which need steel (like appliances and cars), for $100 a ton. Companies in Asia may have lower costs, and can sell the same steel for $50 a ton.
But if the companies in Asia are hit by a $75 per ton tariff, they can't make a profit. So the US producers - both owners and workers - win. And consumers pay more.
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Here's some more details: https://taxfoundation.org/research/all/federal/section-232-tariffs-steel-aluminum/
I forgot about the part where people working at steel CONSUMING business lose their jobs.
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Fascinating. Thank you!
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Thanks for the zap!
BTW can anyone explain why on some zaps I earn what seems like 90%, but on others, it appears to be 25%? Is that written up somewhere?
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